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Regulatory Compliance

BY NAPA Net Staff | 11/22/2021
The Securities and Exchange Commission has announced that an affiliate of McKinsey & Company that offers investment options exclusively to current and former McKinsey partners and employees has... Read More
BY Ted Godbout | 11/12/2021
Nearly all registered investment advisers examined as part of a national initiative focused on advisory fees found widespread errors and inadequate disclosures, according to a new SEC Risk Alert.... Read More
BY Ted Godbout | 11/10/2021
The SEC has issued a new Risk Alert warning about widespread compliance issues among advisers providing robo-advisory services, as well as with those who offer discretionary investment advisory... Read More
BY Ted Godbout | 11/9/2021
In light of the DOL’s increased focus on cybersecurity and participant data, plan sponsors should review their service agreements to ensure they do not give implicit approval to use participant data... Read More
BY Ted Godbout | 11/5/2021
Noting that it will help modernize its system, the Securities and Exchange Commission has proposed amendments to require funds, investment advisers and issuers to file certain forms electronically... Read More
BY John Iekel | 11/4/2021
The IRS has announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2022. The 2022 limits are contained in Notice 2021... Read More
BY Ted Godbout | 10/25/2021
The Department of Labor has issued a temporary delay of the enforcement effective date for Prohibited Transaction Exemption 2020-02. In Field Assistance Bulletin 2021-02, released Oct. 25, ... Read More
BY Ted Godbout | 10/19/2021
Ali Khawar, Acting Assistant Secretary for the DOL’s Employee Benefits Security Administration (EBSA), strongly intimated Oct. 19 that there will be an extension of some kind on the enforcement... Read More
BY Ted Godbout | 10/13/2021
The Department of Labor has just released a new proposal that would set aside the previous administration’s final rules on the use of ESG factors in selecting plan investments and fiduciary duties... Read More
BY John Iekel | 10/4/2021
The American Retirement Association (ARA) has called on the IRS to make its temporary relief from the physical presence requirement for spousal consents permanent.  In a Sept. 30... Read More
BY Ted Godbout | 9/29/2021
The SEC is proposing to bring “greater transparency” to the information investment funds report about their proxy votes and to require disclosure of “say-on-pay” votes for institutional investment... Read More
BY John Iekel | 9/15/2021
The Department of Labor (DOL), IRS and Pension Benefit Guaranty Corporation (PBGC) on Sept. 14 issued proposed revisions to the Form 5500. The changes primarily relate to statutory... Read More
BY Pete Swisher | 9/15/2021
The retirement industry got two new plan types via the SECURE Act—pooled employer plans (PEPs) and “groups of plans” (GoPs). But proposed regulations issued on Sept. 14  might effectively... Read More
BY Ted Godbout | 9/13/2021
Amid the rapidly changing regulatory and investigative initiatives at the Department of Labor and IRS, plan advisors can serve their clients well by helping them stay ahead of the curve, a panel of... Read More
BY Ted Godbout | 9/7/2021
Implementing the Securities and Exchange Commission’s recently finalized marketing rule has cropped up as the No. 1 concern for investment adviser compliance officers.   According to the... Read More
BY Steff Chalk | 9/1/2021
A large insurance company recently allocated $100 million to Bitcoin.[1] In a 2020 survey of nearly 800 institutional investors from the United States and Europe, 36% of respondents confirmed... Read More
BY Ted Godbout | 8/30/2021
The Securities and Exchange Commission has sanctioned eight firms in three actions for failures in their cybersecurity policies and procedures.  According to an Aug. 30 announcement, the... Read More
BY Ted Godbout | 8/20/2021
​While the official amounts won’t be announced for a couple of months, an early projection suggests that nearly all qualified retirement plan limits will increase significantly next year.  ... Read More
BY NAPA Net Staff | 8/9/2021
The Internal Revenue Service has announced a significant update with regard to Form 5500 filing requirements related to the SECURE Act—less than a week after the normal Form 5500 deadline... Read More
BY NAPA Net Staff | 7/27/2021
The Securities and Exchange Commission has settled with 21 investment advisers and 6 broker-dealers on charges that they failed to timely file and deliver their client or customer relationship... Read More
BY Ted Godbout | 7/26/2021
Under a set of Frequently Asked Questions issued by the Department of Labor’s Employee Benefits Security Administration (EBSA), participant-directed plans now have a firm compliance date to... Read More
BY Nevin E. Adams, JD | 7/19/2021
On July 16, the Internal Revenue Service (IRS) released Rev. Proc. 2021-30, and with it a series of updates that plan sponsors and those working to correct plan failures, will find of interest,... Read More
BY Ted Godbout | 7/13/2021
TIAA-CREF Individual & Institutional Services LLC (TC Services) has agreed to pay $97 million to settle charges in relation to rollover recommendations to participants in TIAA record-kept... Read More
BY John Iekel | 7/9/2021
There have been many changes in the last year in the rules governing distributions, rollovers, loans and more. A workshop at the recent annual conference of the National Tax Deferred Savings... Read More
BY Ted Godbout | 6/30/2021
Robinhood Financial has been ordered to pay nearly $70 million for systemic supervisory failures in the largest financial penalty ever ordered by the self-regulatory organization.  ... Read More